The domination of Bitcoin drops by almost 50%

It's not 2015 or 2017 – The market is much more crowded

Some in space have noted that a weaker dominance preceded a strong uptrend in the past. Others have noted that the rise and fall of Bitcoin have almost reached the top of the charts in the first big upward run, in which Bitcoin soared to $ 1,000 and then was dropped to less than 100 dollars.

One thing left out of this badysis is the petulant effect of Mt. Gox. It is reasonable to attribute the first major accident to mount failure. Gox. Being the main Bitcoin stock exchange, its collapse has frightened investors. Subtract this, and it is not clear if the crash has occurred.

However, in the last race, we have nothing like it. There is no catalyst that can be held responsible for sales. Interest has started to decline. Double-digit percentage declines prompted new investors to give up. There is no data suggesting that such investors will come back.

Where will the money come from at this time?

In a sense, it's a sign of virtue that Bitcoin scares these wealth seekers. It is difficult to remain invested in space unless you have a philosophical mistrust of the fiat system that is part of your fundamental principles.

The $ 20,000 increase was one of the few price movements that led some long-term hodlers to move their funds. Some would have bought at lower prices. The average daily price of bitcoin is largely dictated by less than half of the supply of coins.

We can be sure that there will be no "Bitcoin killer" in the near future. But a slow death for Bitcoin is less than impossible. In recent months, it took a lot of work to make money on a Bitcoin investment. You must be very careful and reasonably equipped to time your purchases and sales. If you had the same money in Litecoin, you would be in the business now.

Non-Bitcoin market capitalization is on the rise again. | Chart from Coinmarketcap.com

The chip economy does not rely on Bitcoin

At the same time, intelligent contract platforms are continually acquiring additional value. Real investment products are appearing everywhere. Did you know, for example, that you can buy Dai and earn interest with the Compound protocol? You do not even need to lock your Aether in a CDP because Dai is currently very common in the mainstream.

The actual value of Ethereum, if you count everything there, is more than $ 14 billion. 505 Ethereum tokens have a market capitalization greater than $ 1 million. Many of these tokens, like Bitcoin and Ethereum themselves, have been 80 to 2 to 500 percent higher than their current ratings.

New projects are being launched all the time and the symbolic economy relies heavily on Ethereum. Ether demand during the bullish period can be largely attributed to people who want to buy and hold these types of badets. However, the long-term dominance of Ethereum as the world's computer is also debatable. One can imagine a flourishing market with multiple platforms. After all, it's not the blockchain you use, but what you do with it. Tron and EOS are finding incredible use, and this is not for lack of trying on the part of Ethereum contractors.

EOS and Tron: Underrated

Bitcoin does not have the chip market, at least not in the same way.

Speaking of Tron, the majority of his chips are not counted by most indicators at this point. The same goes for EOS. These tokens are traded on decentralized exchanges such as TRX.market and Newdex.io. Whatever their volume and prices, they are real.

If the EOS and Tron markets were fully taken into account, Bitcoin's dominance of the market would be even weaker. Is this a good sign for Bitcoin too?

The new chips on TRX represent millions of TRXs and the upcoming addition of Tether USD to the Tron platform means that real liquidity is not far off. Users will only have one step to access the fiduciary currency, or the opposite, instead of a few jumps. A reasonable estimate badumes that stable coins will also reach EOS.

The unpopular view: the domination of Bitcoin is slipping for reasons other than financial

It is useful to see the current situation in a historical context. It is probably popular to say that we are again on the verge of a financial epiphany. However, a historical view must include all the extra options for new money.

The funds invested in Bitcoin will be filtered through this lens – people who are investing in cryptocurrency for the first time have many decisions to make. Keeping a certain amount of Bitcoin seems an obvious protection against the even more extreme volatility of the markets of the subsidiaries, but the levers are much more important on the cheaper badets.

And the platforms mentioned are not all there is. Several others have also emerged. Aelf, Cardano, NEO, Tezos – all of this is about to consume some of the new capital that will go through any bullish race. Each of them can accommodate badets worth several hundred million dollars and will probably do it.

Any badysis of Bitcoin is incomplete if it does not mention that Litecoin managed to win while Bitcoin remained relatively stagnant. Litecoin cost less than $ 30 when Bitcoin started slipping last fall. Now it's almost double that price and its prospects are good.

Will Bitcoin reach $ 50,000 or $ 100,000? It's certainly possible.

But the road to get there will not be like before. Many other badets will increase with, and their increase will necessarily temper BTC's lunar aspirations. It's quite possible that every time Bitcoin wins 25%, basic tokens like Etheruem or EOS earn more as a percentage.

In the long run, it's not even crazy to think that a Bitcoin day may not be number one. This does not mean that Bitcoin will have "failed". This means that others may be more in demand. The many use cases of Blockchain need flexibility to emerge.